Professional Documents
Culture Documents
Subhankar Project
Subhankar Project
ON
―COMPARATIVE ANALYSIS OF PRODUCTS AND SERVICES‖
Submitted to
Government Autonomous college,Bhawanipatna
BBA DEPARTMENT,
Submitted by
Subhankar Mohanty
Roll No:- 17BBA11
B.B.A:-SEMESTER 3
_____2019
2
PREFACE
In the present fast moving globalize economy, only theoretical knowledge is not sufficient
foe an individual to perform efficiently to bridge the gap between theory and practical.
The students required to undergo 5 weeks training in any organization in subjects like
marketing, finance, human resource or information technology.
Summer internship program is a prelude to the final placements that the students will
getting. It is during these 5 weeks of exposure to the industry that the students can make a
mark of challenging work, knowledge and ethics on the host organization.
Summer internship program would also be a great learning experience since it enables the
students to apply theory to practice and observe and learn the current trends in themarket.
So, to have a practical exposure, I have been placed on ―The axis bank‖ for my summer
internship program as my specialization is marketing and this company especially Admin
Marg branch deals with sales and service distribution.
4
ACKNOWLEDGMENT
I am heartily thankful to all the persons who spared their valuable time and
helped me a lot in preparation of this project report. There are many people
behind making of this report, without their help and guidance, this report
would never be made possible.
First, I would like to express my sin cere thanks to Mr.Soham panigrahi (branch
manager of axis bank) and our institution for giving me this golden
opportunity. I am greatly thankful to my project guide Prof. Bhomkesh pradhan
for giving me proper guidance and cooperation for making this report more
meaningful.
5
DECLARATION
Place:Bhawanipatna
signature
Date:-
6
Executive Summary
B.B.A is a stepping-stone to the management carrier and to develop good manager it is
necessary that the theoretical must be supplemented with exposure to the real environment.
Theoretical knowledge just provides the base and it's not sufficient to produce a good
manager that' s why practical knowledge is needed.
In accordance with the requirement of B.B.A course I had summer training project in Retail
Banking department of AXIS Bank on the topic "analysis of products & services & retail
working".
The retail banking environment has undergone major change. Retail banking customers are
much more active than they were a decade ago. Customers are demanding more customized
products and services. This has imposed significant new demands on retail banks. With a
view to attaining an increasingly significant position in the growing retail financial services
sector in the country, banks have continued to provide a sustained thrust to retail banking
through a continuously expanding network and a growing sales force with customer
relationship skills, that has enabled the distribution of a wide range of products to a fast
expanding customer base.
The report gives an overview of the Retail banking products offered at AXIS Bank, the
security measure of the bank, guidelines by RBI, Negotiable Instruments ACT, recently
launched government schemes, etc.
7
TABLE OF CONTENTS
8
Part-1
Industry
Information
9
Banking sector: -
A bank is a budgetary middle person and Money maker that makes Money by loaning cash to
a borrower. Loaning exercises can be performed straightforwardly by giving credit or by
implication through capital market. Capital market are monetary market for the purchasing
and offering of long haul obligation or value supported securities. These business secto
channel the abundance of savers to the individuals who can put it to long haul ben
utilize, for example, organizations or governments influencing bug-to term speculations.
Monetary controllers, for example, the Securities and Exchange Board of India (SEBI)
U.S. Securities and Exchange Commission (SEC), direct the capital market in their wards to
ensure financial specialists against extortion, among different obligations. Because of the
significance in the monetary framework and impact on national economies, banks are very
directed in perch of nations either by National Government or Central Bank.
10
Growth of banking industry: -
in the cutting-edge sense, began in the most recent many years of the eighteenth century.
Among the principal banks were the Bank of Hindustan, which was set up in 1770 and sold in
1829–32; and the General Bank of India, set up in 1786 however flopped in 1791.
The biggest bank, and the most established still in presence, is the State Bank of India (S.B.I).
It began as the Bank of Calcutta In June1806. In 1809, it was renamed as the Bank of
Bengal. This was one of the three banks established by an administration government, the
other two were the Bank of Bombay in 1840 and the Bank of Madras in 1843. T
banks were converged in 1921 to frame the Imperial Bank of India, which upon Ind
autonomy, turned into the State Bank of India in 1955. For a long time, the administration
banks had gone about as semi national banks, as did their successors, until the point when the
Reserve Bank of India [5] was built up in 1935, under the Reserve Bank of India Act, 1934.
In 1960, the State Banks of India was given control of eight state-related banks under the
State Bank of India (Subsidiary Banks) Act, 1959. These are presently called its partn
banks. [6] In 1969 the Indian government nationalized 14 noteworthy private banks, one of
the huge bank was Bank ofIndia. In 1980, 6 more private banks were nationalized. [8] These
nationalized banks are the lion's share of moneylenders in the Indian economy. They rule the
saving money division due to their substantial size and across the board organizes.
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Banking sector in India:
As indicated by the Reserve Bank of India (RBI), the managing an account division in India
is sound, satisfactorily capitalized and all around controlled. India is one of the main
economies globally, with huge potential for the managing an account segment to devel
With the possibility to wind up the fifth biggest saving money industry on the planet by 2020
and third biggest by 2025, as per KPMG-CIN report, India's managing an account and facial
segment is extending quickly. The new standards of Reserve Bank of India's (RBI) will give
incentives to banks to spot potential terrible credits and make remedial strides that will check
the acts of unreliable borrowers
The Indian Banking industryis at present worth's. 81 trillion (US $ 1.31 trillion) and banks
are presently using the most recent technologies like internetand cell phones to comple
exchanges and communicate withthe majority.
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1.Central Bank:
It operates for profit. It accepts deposits from the public and extends loans to the households, the
firms and the government.Theessential characteristics of commercial banking are as follows:
• Forlending or investment
Public Sector Banks (PSBs) are those banks where majority of stakes fi with the Government.
Allthese PSBs are listed onstock exchanges.Central Government entered bankingindustry
with the nationalization of Imperial Bank of India in 1955, then in 1969 14 majorbanks were
nationalizedand in 1980 4 morebankwerenationalized.
To Namea few PSBs: State Bank of India and is subsidiaries, Bank of India, Bank of Baroda,
Bhartiya Mahila Bank, Central Bank of India, etc.
13
II. Private Sector Banks:
Private Sector Banks in India is made up of private and public banks. But the greater part of
stake is in thehand of private shareholders andnot with the Government. PrivateBanks are
categorized asOldandNewPrivate bank
Old Private banks:These are those banks which were not nationalizedduringthe process in
1969 and 1980 due to the smaller scale or regional reach only.
Example:thalamiBank, Federal Bank, ING Vysya Bank, Karur Vysya Bank, etc.
New Private Banks:These are the banks which came into operations afire the liberalization in
1990s. Banking Regulationwere amended in 1993 so that new private banks can enter the
Indian Banking industry.
Example:ICICI Bank, AXIS Bank, HDFC Bank, Yes Bank, DevelopmentCredit Bank,
Kotak MahindraBank, RBL Bank, etc.
But there were certain criteria for the establishment of new private banks whichare as follow: -
• Within 3 years of the starting of the operations,the bank should offer shares to public and
their net worth rust increase to 300 Cr.
With the globalization hitting the world, the concept of banking has changed substantially.
The concept of Foreign Banks has changed the prevailingbankingscenario in India. Banking
is now crore of crore customer-friendly, moderntechnology havebeen implemented like
mobile banking, mobileapplication of banks, etc.
Example: HSBC Bank, JP Morgan Chase Bank, Deutsche bank, Standard Charter Bank, etc.
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IV. Regional Rural Banks:
Regional Rural Banks (RRBs)were started in1970 since even afire the nationalization, there
were culturalissues related tolending tothe farmers.Themain purpose of RRBs is to
mobilize financial resources from rural-semi-urbanareas and grants loans and advances
mostly to small and marginal farmers, agricultural labors, etc.
Larger visit unions are often called cooperative banks. Like credit unions, cooperative banks
are owned by their customers and follow the cooperative principle of one person, one vote.
Unlike credit unions, however, cooperative banks are often regulated underboth banking and
cooperative legislation. They provide services such as savings andloans to non-rerefers swell
as to rerefers, and some participate in thewholesale marketfor hands,Moneyand even
equities
Urban Co-operative Banks are giving banking facility y to grass root persons. As Urban Co-
operative Banks are mostly workingin the rural and semi-urban areas they understand the
genuinecommercial needsof the local population in their area of operation Urban Co-
operative Banks help smalland mediumsized traders, entrepreneurs, artisans and farmers
who are deprived of banking facility as private sector and commercial bankstap only high
profile and successful entrepreneurs
15
II. Rural Co-optative Banks:
The rural cooperatives are further divided into short-term and long-term structure. The short-
term cooperative banks are three tired operating in different states.
• Retail banking
• Business banking
• Corporate banking
• Private banking
• Investmentbanking
GovernmentInitiatives:
➢Pradhan Mantri Jan Dham Yojna:The scheme has been started with a target to
provide 'universal access to banking facilitystarting with 'Basic Banking Accounts"
with overdraft facilityof 15000 aftersix months and Rupays Debi card with inbuilt
accident insurance cover of 1 1 lakh and Rupay, KisanCard
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➢Pradhan Mantri Suraksha BemaYojna:Accident Insurance Scheme offering
accidental death and disability cover for death or disability because of an accident.
• A 112/-per annum premium will be deducted from the account holder‘s savings bank
account through ‗auto debit‘ facility in one instalment.
• A premium ofRs 330/-per annum will be deducted from the account holder‘s savings
bankaccount through ‗auto-debit‘ facility in one installment
Banking is working specificallyon the guidelines of the Reserve Bank of India. Out of all the
acts Negotiable Instrument Act is one of the most important act for running of the banking
activities.
17
NegotiableInstrument Act:
This is an act to define and lay down the law relating to Promissory Notes, Billsof Exchange
or Cheques payable either to bearer or to order.
This act operates subject to the provisions of Sections 31 and 32 of the Reserve Bank of India
Act, 1934. Section 31 of the Reserve Bank of India Act provides that no person in India other
than the RBI or as expresslyauthorizedbythis Act, the Central Government shelldraw,
accept, make or issue any bill of exchange, hundi, promissory noteor engagement forthe
payment of Moneypayable to bearer on demand.
Promissory Note:
Bill of Exchange:
―Cheque‖: -
is bill of exchange drawn on a specified banker and not expressed to be payable otherwise than
on demand and it includes theelectronic imageof a truncated cheque and acheque in t
electronicform.
18
Part-2
Organization
information
19
Introduction:
Axis Bank Ltd., the first bank to begin operations as new private banks in 1994 a
Government of India allowed new private banks to beestablished. Axis Bank was joint
promoted by the Administratorof the specified undertaking of the
Additionally, with associatesNational Insurance Company Ltd., The New India Assurance
Company, The Oriental Insurance Corporation and United Insurance Company Ltd.
Hub Bank is the third biggest private part bank in India. Pivot Bank offers the entire rangeof
money related administrations to client portions covering Large and Mid-Corporates, MSME,
Agriculture and Retail Businesses. The Bank hasa substantial impression of 3703 branches
and 13,814 ATMs spread over the province as on 12 Aug 2016 which is the biggest ATM
organize in nation among PrivateSector Banks in India. The abroad tasks of the Bank are
spread over its seven worldwide workplaces with branches at Singapore, Hong Kong, DIFC
(Dubai International Financial Center), Colombo and Shanghai and delegate workplaces at
Dubai and Abu Dhar
With an accounting report size of 6,91,330/ -Cr. as on 31st March 2018, Axis Bank
accomplished steady development and stable resource quality with a 5-year CAGR (2012-13
to 2017-18) of 15% in Total Assets, 12% in Total Deposits, 17% in Total Advances.
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The most recent contributions of the bank alongside Dollar Varian is the Euro and P
Sterling variations of the International Travel Currency Card (TCDC Card). The Travel
Currency Card is a mark based prepaid travel card which empowers traveler's global
access to their Money in neighborhood cash of the meeting province in a sheltered
helpful way. The Bank has qualities in both retail and corporate managing an account and is
focused on embracing the best business rehearses internationally inrequestto accomplish
perfection.
21
HUMAN RESOURCE DEPARTMENT
"Human Resource Management work that enables administrators to enroll, select, prepare
and create individuals for an association. Clearly, HRM is worried about the general
population's measurement in associations.
This is taken care of by doing the arranging toward the start of consistently. Toward
finish of the year, the Human Resource division from each Branch gets the necessity for the
individual for entire year. At that point the arranging of enrollment and preparing is finished
via preparing chief and enlisting director which is endorsed from Head for Department.
❖Recruitment
Enrollment is a procedure of scanning for imminent possibility for the given employment in
the business. As we probably are aware it is imperative for a mechanical worry to
productive and powerful staff with right quality and at opportune time and at perfect place
accessible at whatever point they are required. Each association needs worker time by time in
view of advancement or retirement of a representative. For this reason, an association need to
look for the correct competitor. Thus, it needs to energize this kind of right applican
whatever point they require.
22
❖Training and Development
Preparing goes for expanding the aptitudes, aptitudes and capacities of specialists to perform
employment. It makes representatives more successful and handy. In exhibit dynamic
universe of business preparing is more vital there is an ever-display requirement for preparing
men. With the goal that new and changed systems might be embraced. Another and changed
procedure might be taken as a focal points and change influenced in the old strategies.
Preparing is learning background that looks for generally lasting change in a person that will
enhance his/her capacity to perform at work.
They give "at work" preparing to their representatives in the branch as they select t
workers for offering different results of bank by coordinate promoting. At whatever po
they select new contender for any post, they use to give them at work.
If there should be an occurrence of offers people to appropriate their different items, at the
outset the individual must work under the perception of his senior then they should
market to have their own understanding.
The ideal opportunity for preparing program for the applicant is depends up on the significant
position of his work region. They additionally give preparing identified with client care and
correspondence.
Aside from different impetuses and advantages, the work force isremunerated just as far as
wages and pay rates. A legitimate remuneration as far as this is fundamental for inspiration
representatives for their persistent enhanced execution. For this, it is required that wages and
pay rates are given well by association.
23
Wages and pay alludes to the foundation and usage of sound strategies and practices
representative's remuneration. A wage and pay are the compensation paid for the
administration of work underway intermittently to a worker. The bank is in benefit industry,
so the compensation is given on month to month premise. They used to procure certain sales
representative on commission base and they are given their pay rates on commission base.
While other lasting staff are being given month to month pay rates. As AXIS bank is rumored
bank in showcase the compensation scale is according to the standard.
Deals officials (cajole) are being given compensation of 6000 to 8000 every month. While
deals officer's compensation ranges from 15000 to 18000 every month. Pivot bank is
additionally giving appealing impetuses according to the objective. The compensation of
branch administrator is around 35000 every month.
❖Incentive
❖Employees advantage
The representatives of AXIS naturally move toward becoming AXIS bank compensation
account Holders with uncommon advantage and benefits and get moment pay credit. T
advantage incorporates worldwide check card, corporate card with singular obligation
(CCIL), access to telephone saving money and web managing an account, demit records, and
host of different administrations to supplement their investment account. Here are a portion
of the highlights of AXIS Bank's compensation account.
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❖Disputes and their determination
Question are normal in association. By and by, debate principally identify with the objective
simply because if any worker isn't accomplishing target he/she won't qualified for impetus
which makes disappointment among them.
Each representative canconverse with the leader of the division on the off chance that they
have any issue identified with the activity. Right off the bat, the issue is tackled by the leader
of the division and if the issue does not settle by the leader of that office then it is routed to
the HR Manager.
❖Performance Appraisal
An association's objectives can be accomplished just when individuals put in their earn
attempts. Execution examination might be comprehended as the evaluation of a person's
execution methodically. It is characterized as the precise assessment of the person as
his/her execution at work and his/her potential for advancement.
To evaluate the execution of the worker they have built up a credit framework in view of the
offered focus to the representative.
25
MARKETING DEPARTMENT
Ajay Kelkar, Head, Marketing, AXIS Bank, said that these activities are particularly focused
at those customers who don't knowabout the bank's different esteem included
administrations, for example, coordinate managing an account office.
"We will exhibit the benefits of net managing an account and portable keeping money, as
these ideas are generally new to individuals living inlittler towns and urban communities,"
said Kelkar. The bank has additionally propelled another activity called Business Ki Batten,
which is focused at zones where the greater part of the populace contains little
businesspeople. Kelkar said that the bank would motivate specialists to chat on a few issues,
for example, esteem include assessment and deals charge. Bank can gauge the aftereffect of a
battle through the deals that they produce and the clients that are included. There is
reasonable rate of return, which from a useful perspective gives the group a more grounded
voice. Bank has likewise possessed the capacity to lessen their promotion spends by around
10-15 for each penny and has additionally decreased the cost of obtaining Bank's
concentration infuture is upgrade its database advertising activities. Bank intend to
contribute near Rs 12 crore to make the condition that is required to help client insight that
prompts information-basedadvertising.
Hub has contracted a broad Customer Lifecycle based advertising effort date-book for this
and the anticipated monetary. Fractal, which spendsconsiderable timein foreseeing the
conduct of the clients in the regions of hazard and advertising, would accomplice AX
Bank's promoting group in different activities of developing the retail business rapidly and
cost viably.
Pivot has been utilizing investigation for taking educated promoting choices. Fractal will
enable the bank to utilize data to achieve new clients and to assemble, support and
enduring client connections. Fractal will likewise enable the bank to take care of the issue of
consistently expanding client securing expenses and diminishing client dedication. The
26
showcasing modified would include obtaining of clients productively by lessening effort
costs, strategically pitching different resource and risk items to the current clients,
consequently, utilizing the current connections and proactively holding existing clients.
Fractal's examination-basedadvertising arrangements traverse which the whole lifecycle of
client relationship ideal from client obtaining to client maintenance to client esteem
administration, is relied upon to give AXIS a high ground in understanding the necessities
and conditions of their clients.
Axis Bankis perhaps the main bank in India, and one of the plain few in Asia, to have set out
on an information drove promoting examination crusades activity, utilizing showcasing
robotization innovation gave by Uncia. Uncia has been perceived by Gartner as the m
player in this field. Through this instrument, we have possessed the capacity to brillia
utilize the 4-5 terabytes of client information accessible in its stockroom. We have set up a
group to direct showcasing efforts in a logical way utilizing client information, use designs,
inclinations, lifecycle, and so on., the bank likewise leads occasion-basedpromoting.
AxisBank has been overwhelmingly utilizing directmailers, messages, and SMS for
conveying our message to our intended interest group as they are the most practical courses
of tending to our center target gatherings of people with greatest level of customizati
conceivable
27
FINANCE DEPARTMENT
In this cutting-edgeperiod, it is anything but difficult to know how much vital the back is in
the business. As present position of the market is entirely unexpected from old where it was
anything but difficult to get the back. In any case, now daily it isn't in this way,
exceptionally troublesome undertaking to raise reserves from showcase. As today individuals
are confronting parcel of issue and have less certainty available, so it is hard to ra
subsidize without appropriate arranging.
For the bank as it is a Financial Institution we can think about back as backbone
business. The organization should figure out how to get adequate back. The organizatio
should use to keep legitimate making arrangements for the back of its own and of the vast no.
of contributors who are there with the bank. We can characterize financial administration as
an errand of procurement and use of assets required in the business in a way,so associations
objective can be accomplished. In AXIS Bank, its CFO and Treasurer deal with the
Because of legitimate approaches and separateadministration,the organization can have
appropriate activity of back.
For the bank fund itself is the item now it's anything but a simple undertaking to deal with
this back. As bank must keep watch on the stores of its a vast numberof clients and it must
deal with its own substantial budgetary base. As in late it is prominent "No fund no business",
for the bank "Back itself is business". There are assorted kinds of hierarchical structure, for
example, gather association, line association, line and staff association. Hub Bank has line of
specialist and line of expert is vertical i.e. expert goes start to finish and obligation goes from
base to top level administration.
As AXIS Bank is huge organization and it has expansive cliental base, so it is exceptionally
troublesome and muddled to deal with its back in legitimate way. There we need of concrete
and legitimate strategies to have appropriate administration of it.
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Board of Directors of AXIS Bank:
DESIGNATION NAME
Chairman Dr. Sanjiv misran
MD & CEO Shikha sharma
Director K.N.Prithviraj
Director Prasad Menon
Director Prof. Samir K. barua
Director Sommittal
Director Ireenavittal
Director Rohit bhagat
Director Usha sangwan
Director S vishvanathan
ED, corporate banking V Srinivasan
ED, corporate centre& CFO Sanjeev kumargupta
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Vision & Values:
Values: -
•Customer Centricity
•Ethics
•Transparency
•Teamwork
• '
Ownership
Business Description:
AXIS Bank operates in vary segments such as Treasury Operations, Retail Banking,
Corporate/Wholesale Banking and Other Banking Activities.
Retail banking:In the retail banking category, the bank offers Current Accounts and Savi
Accounts product, card serves, Internet banking, amounted teller machines (ATM) services,
depository, financial advisory services, and Non-resident Indian (NRI) services.
30
Investment banking:Bank‘s Investment Banking business comprises activities related to
Equity Capital Markets, Mergers and Acquisitions and Private EquityAdvisory. The bank is
a SEBI-registered Category I Merchant Banker andhasbeen activeinadvising Indian
companies in raising equity through IPOs, QIPs, and Rights issuesetc. During the fiscal year
ended 31 March 2012, Axis Bank undertook 9 transactionsinclude in 5 IPOs and 2 Open
offers.
NRI services: Bank provides products and services for NRIs that includes CASA, facilitate
investmentsinIndia.Axis bank is the first Indian Bankhaving TCDC cards in 11 currencies.
Micro Finance: Axis Bank SME business is segmented inthree groups: Small Enterprises,
Medium Enterprises andSupply Chain Finance. Bank offers lending to individuals/sma11
businesses subjectto the OrientationUnder the SmallBusiness Group a subgroup for
financing micro enterprises isalso set up.
Agri-Finance:
Banks provide various accounts, loans on various products, etc. to farers. Total759
branches of the bank provide banking services,includingin Agriculturalloans, to the
farmers.
❖Kisanpower
❖Tractor loans
❖Go downloans
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AXIS Group:
AXIS Bank has several products in Retail Banking which are categorized as
➢Accounts
➢Deposits
➢Loans
➢Cards
➢Forex
➢Investment
➢Insurance
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All the products have been sub-categorized as per the benefits of the products which are as
under….
Accounts: -
1.Savings Account:
❖Youth account
❖Trust/NGO account
❖Salary account
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2.Current Accounts:
3.Loan:
Home loan:
Axis Bank offers affordable andExile housing loans that can turn your dream of owning a home
into reality.
oFeatures:
Axis bank offers attractive interest rates that makes customers housing loan affordable.
Customerhas afacilitytotransfer their current home loan of other banks to the AXIS Bank
without any
Any query related to home loan or need some help. AXIS Bank Executivewill beat your
doorstep.
There are no Pre-Payment charges if customer wants to wave off the loan before maturity.
34
oEligibility Criteria:
✓Salaried Individuals
✓Professionals
✓Self-employedindividuals
Personal Loan:
Apply for Axis Bank's Loan Against Property. Bank givesloanagainst propertybe it
commercial or residential or for purchase of new commercial property.
Gold loan:
AXIS Bank gives loan against the Gold Ornamentswiththe safety of the gold at the bank‘s
vaults.
Education loan:
Within 15 working days from the date of receipt of application with all the valid d
decision will be conveyed by the bank.
Cash Credit:
AXIS Bank offers Cash Credit facilitiesto meet day-to-day working capital needs. Cash
Credit is providedagainst the priory security of stock, debtors, other current assets, etc.,
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4.Investments:
✓Mutual funds
✓Axis focus 25
✓Demat account
5.Insurance:
✓General insurance
✓Fastrack plan
Account Opening:
A customer‘s frown ration with bank starts with Account Opening in AXIS Bank the
accounts of the customers are usually notopened at branchesand with such old formalities
likeforms & etc.
In axis bank account is going to open with tablet on the spot by sales
person at convivence place of customer and in saving account customer gets chequebook,
atm, passbook instantly.
36
Guidelines for opening of Savings Account:
For accounts of individuals,PAN card,a proof of identity and address as mentioned in Table
is required along with a recent passport size photograph not older than 3 months for saving
account. For joint holder the above documents are required for both, the applicant as wellas
joint applicant.
• Letter from employer/ contract 1etter/ permission from RBI incase of business
• Address proof
➢Salary Accounts:
This are the accounts where an employer enters an understanding with the bank for opening
accounts of the employees for their salary to be credited in respective accounts. The KYC
requirement toopen these accounts is the sameas in the case of normal resident individual
account.
Account of non-individuals is opened under scheme code SBTRS. For the convenience o
business, theyhave been classed into 4 constituent ionscodes of 9-A, 9-B, 9-C, 9-D inFinacle.
It is possible that for a ‗Trust‖, "Society/‘, or ‗company‖ account isopened, depending upon
the businessconsideration.
➢Account of Society:
The entities whichmay be known by names like Trust, Foundation, Clubs, Association,Society,
NGO etc. but are registered as Societies and registered under the Societies RegistrationAct, 1860 or
any other corresponding law in force inState or a Union Territory,
37
Account Details:
In AXIS Bank, when account isopened, the account holder becomesa client of the bank. Aclient
ID Number is allotted to him. A clientcanopen many accountsat different branches. Each account
is identified byan account hunter.
Customer ID is a unique number allotted to each customer. Now, it‘s possible that ascustomer
has two or crore accounts. For example, say a customer byNameMr. Mayur has his
account with our bank. He rays wan to open another account jointlywithhis wife. Each account
is intifada by a unique Account No. and all the accounts of Mr. Mayur are linked to a single
Customer ID. Let‘s look crore closely at the account no.
bank code
91801000678432 5
Account Type
Account no.
Check digit
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Know Your Customer
Who is a customer?
Toprevent misuse of banking channelfromfinancial frauds, money laundering., RBIa part of their
initiativestoprevent suspiciousactivities, advised bank to follow certain procedure which are
known as KYCguidelines.
39
KYC essentiallyincludes recognizing the client and confirming his/her personality by
utilizing dependable,independent sourcereports, information orinformatory Special
consideration should be given to due steadiness for records of turns, companies and clients
‗accountsopened by proficient interned journals.Because ofturns, branches should take
sensible precautions to verifythepersonality of the twisters and the pioneers of the wind.
Recipients ought to likewise be identifying whenthey are characterized. For organizations,
branches should be vigilant againstbusies elements being utilized by individualsas a 'front'
for retaining accountsopened by a professional intermediaryfor the benefit of a solitary
cline, that customer rust be distinguished according to our method.
These rules are so important, thateven a current record beam must be shut because of the
Bank's failure to confirm the client'sidentity, althoughany Branch Heads will have the
specialist to take such choice the point of these rules is to:
• Minimized fakes
40
Account Profiling:
RBI has stipulated classification to low, recover and high-rich classifications. It been chosen
to do as such in view of foreseen exchanges volume in each account. This would assist the
Bank with classifying the records into various rich classifications for movement transaction
monitoring the cut cutoff points could be indicated relying on the hazard profile. The profile
would should be refreshed from tire to tire. As Money laundering is a procedure basically
including a progression of transaction, it has been viewed as fitting to accumulate the profile
because ofjust Savings Bank and Current Accounts instead of Term Deposits. It will not
be important to stretch out the technique to resource accounts.
Account Profile
Extra information which is gathered inthe AOFsuch as yearly salary, age, occupation, and so
on., if there should be an occurrence of individuals and subtle elements of the sort and degree
of the business in the event of current record is utilized to create what is known as a "Record
Profile". Such a profile gives us a thought of the sort of wans activities/exercises anticipated
that would go through the record, which would in the end enable us to recognize
suspicious sensation not commensurate withthe client profile. Even thoughthis data is totally
deliberate, I am priceless for observing the exercises in the records, as additionally hazard
observation from the Money laundering perspective. The hazard factor would decide the
nature and degree of checking required.
Transaction Profile
Just as I tryto draw up an account profile, constant monitoring of the accounts helps us draw up a
Transaction Profile. This is again done so that we can spot quicklyifthere is inactivitythe
account.
Does the customer deal in large cash transaction? Ifso, what is the nature of such
transactions?
Do we have any other agreement with the client forfund transfers? If so, what
41
Details of loan facilities enjoyed by the customer from the bank
Do we have regular contact with the customer? If so, by what meanse.g. personal
visits, telephonecalls, e-mai1 etc.? Who are the persons generally contacted by is?
Monitoring of Transactions:
The extent of monitoring should depend on the risk sensitivity y of the account. A
clearing credit transactions for Rs. 50,000/-and above in newly opened accounts is being sent by
Data center daily. Branches should scrutinize the transactions.
Any wans actions exceeding the threshed limit of 10 lacs shoo be monitored to see
conforms to the profile. If not, details ray be sought to establish the nature of transaction Apart
from such wans actionswhen cross the thresholdlimit, certain other activities ray be give rise to
suspicion of Moneylaundering However, in needs to be ensured that, in our zeal to monitor
such activities,genomeand bona fide transactions of customers are not delayed and customers
inconvenienced.
Apart from follow in the procedures relating toremittancesaslaid down in the FEMA
guidelines,thebranches while dealing with overseas find transfer, hot Inwards and outwards, wI1
must be vigilantin ascertaining,wherever possible, the purpose of remittances, of the remitter as
well as the beneficiaries, and link such reentrances to the customer profile on record. It may be
necessary toscrutinye-transactionscorecloselyif the paean of reentrances arousessuspicion
However, care will have to be taken not to delay crediting the proceeds of the remittancessolely
for lack of theabove nature. Here again, therarer should be handled with appropriate tact.
42
Accounts of Mirrors:
Account opening: -
While opening the account of a Minor, the Bank is guided by the provisions of Section 3 of
the Indian Majority Act 1875, which defines, that ―A minor is a person below the age of 18
years, unless a guardian is opposed by Court of Law or the property of theminor is under
superintendence of Court of Wards, in which case minorityextends till the age of 21 years.‖
Three types of minor‘s accounts can be opened at the branch These accounts and their operative
guidelines are as follows:
A literateminor above the age of 12 years, who can comprehend thenature of banking wans
action sandcan sign uniformly, canopen and operate such an account.
The maximum balance insuch accounts is normally resisted to Rs. 1 lac and exceptions permitted
with the approval of the Branch head. Instrumentsin the Name of the minor only as payee can be
credited to such accounts. This precludes the possibility y that in-migrantsissuedin favor of the
father/rot her are collected in accounts.
Such accounts opened in the Name of the minor are operated by one of the parents as guardian for
and on behalf of the minor, or in case where the natural guardian is not alive or
to
discharge duties, is operated by a guardian appointed by a Court of Law for Andonthe minor‘s
behalf theexact age of the minor d irrelevant for such an account if he remains a
minor‘s signature is not admitted in the account for operation Here again, in-migrants in the name
of the minor only as payee can be credited to such accounts. Instrumentsissued infavor of the
father or the mother is not collected for this type of account. There is however no resection as to
the deposit/maximum balancein these accounts unlike inthe accounts mentioned inabove type 1
account.
43
3)Joint Accounts in the nameof the Minor and the Guardian:
Such accounts opened in the joint nameof the minor and the guardian are operated w
sutures of either the minor or the guardian with the mandate as either-or survivor, or former or
survivor, orjointly byboth where the mandate provides for joint operation inthese cases,
instrument both in the Nameof the minor and/or the named guardians as payee can be credited to
such accounts. There is no rejection again as to the deposits/maximumbalance in these accounts
unlike in the accounts mentionedintype 1 account.
In any of the above cases,the birth date of the minor, verified from the original school/
certificate,is required to be invariably recorded in the account opening form specimensuturecard.
This isnecessary becausewhen a minor attains majority,thestatus of the guardian£e., his
authority tofor and on behalf of the minor is revoked.
Simultaneous lee, the minor is required to ratifythe act fins taken by the guardian in the past
and on his tobird him on the transactions as he has now become capable of contracting in his own
capacity in the eyes of the law.
After minor attains majority,branchshould take a balance confirmation lever as wet as a new AOF
from the former minor and modify theirrecords accordingly.
AXIS Bank currently issuesTrust 24 ATM card to minors, above the age of 12. Toincrease
operational efficiencies, it been decided to issueDebit Card to minors above the age of 12.
44
Risk Management:
45
❖Demand Draft:InAXIS bank for an amount exceeding Rs. 20,000/-, the remitterto
be identified. All drafts/pay orders of Rs 20,000/-and above should be issued as
crossed only.
The Carrier:The Sutured Financial Messaging System (SFMS) is bulk on the lines of
SWIFT but has many crore unities to offer. The major advantage of SFMS is that it can be
used practically for all purposes of secure communicate inwithinthe bank and between banks.
The inure-bank part of SFMS, when is roost important, can be used by the banks to take full
advantage of the secure messaging facilityitprovides.
The Identifier:IndianFinanced System Code (IFSC) is an alpha number i.e. code designed
to uniquely identify the bank-branches in India. This is 11-digit code with first 4 characters
representing the banks code, the next character reserved as control character. (Presently
appears in the fifth position) and remaining 6 characters to identify the branch.
46
The Mode of Transfer:
It is a mode of electronic fundstransfer from one bank account to another bank account using
the services of Clearing House. This is normallyforbulk wasters from one account to man
accounts or vice-versa. This can be used hot for making payments like distribution of dividend,
interest, salary, pension, etc. by institutions or for collection of amounts for purposes su
payments to utility coracans liketelephone, electricity y, or charges such as house tax, water tax,
etc. or for loan instalments of banks or regular investments of a person There are two types of
ECS: I) ECS-Credit-is used for affording credit to a largehunter of benefit diaries byraising a
single debit to an account such as dividend, interestor salary payment. E) ECS-Debit -is used for
rating debris to a hunter of accounts of conspirers/account holders for crediting an instrument.
It is a system through which electronic instrumentcan be given by banks to waster finds from
their account to the account of another bank. The RTGS system is rainier inked and operated
by the RBI and provides a reruns of efficient and faster transfer argon banks fac fixating the
financial operations. As the Namesuggest, lid transfer between banks takes place on a ‗real
tire‘ basis. Therefore, Moneycan reach the beneficiary instantaneouslee and the benefit dry‘s
theresponsibility to credit the benefit dry‘s account within two hours. The minimum amount
to be remitted throughRTGS is Rs. 2 Lalji There is no upper ceding for Tics wans actions.
The beneficiarybanksto credit the beneficiary‘s accountwithin two hours of receiving the
lidswaster message.
It is a nationwide finds waster system to facia ate transfer of funds from any bank branch to
any other bank branch. There is no minimum or maximum amount that can be remitted under
NEFT.
47
24*7 Banking:
InternetBanking:using the internet, one can look-up the status of account, soubrette queries and
undertake a wide range of transactions.Inaddition to the facility of balance enquiry, statement
of account, request for issue of cheque hook, view personal account information, details
holding and statement of accounts, etc. Customerbe able to wans act on the account through the
Fund Transfer Facile y from the connect account.
AXIS Mobile:AXIS mobile gives a cue anywhere, anytime banking experience. Balance
injury, mini statement, cheque hook request, connect pin regeneration request, Fund transfers
to AXIS account or other bank account (NEFT/RTGS), ball payments.
Secure Banking:
AXIS bank always endeavored toprovide the best of banking services to the customers. Its
latest initiative fi NETSECURE, whichis a Two Factor Authenticate insystemto provide
added security to the online banking wansaction sandthis rakefindstransfers safe and
secure.
48
For online fund wasters AXIS has three types of NETSECURE:
49
SWOT ANALYSIS
Strength
oAxis bank has been given the rating as one of best three positions as far as speediest
development in private division bank.
Weakness
Opportunity
Threats
50
Part-3
Primary Study
―COMPERATIVE ANALYSIS OF PRODUCTS AND SERVICE OF
AXIX BANK‖
51
OBJECTIVES
oConsumer mindfulness about the items and administrations gave by the axisbank.
oTo gain the knowledge of products & services of axis bank and to compare itwith
other banks.
52
LITERATURE REVIEW
1.
UppalR K and Poonam Rani (2012),in their study titled Customer Perception towards
Better Banking Services in India-An Empirical Study, analyzed customer perception about
CRM, reliability, accuracy, security and transparency among the customers of public sector
banks, Indian private sector banks and foreign banks in Amritsar, Punjab. They have found
that most of the customers are satisfied with banking services and that customer satisfaction
can be improved by ensuring more speed in rendering transactions andgiving prompt
services.
2.
D Mishra (1997)makes a study on the performance of commercial banks in India choosing
relevant parameters like quality of service, risk management, profitability etc. His conclusion
is that the banks should try to increase quality, balance risk management, andoptimize
profitabilitytosurvive and succeed. He identifies four challenges for the bank namely
competition, credit, customer and control.
3.
Gaganjot Singh (1998)in his study ―New innovations in banking industry –astudy of new
private sector banks‖ views that the new private sector banks in India are using bet
technology and are offering better services to the customers. The new private banks h
emerged as a model to the banking industry in terms of service levels, ambience, technology
etc. As the public-sectorbanks have already established a huge customer base, they become
complacent and are slow to become customer friendly. They are also less innovative in the
use of technology-assisted customer service. Because of their huge customer base,they feel
that they can withstand competitions from new generation banks.
53
4.
Parimal Vyas (2000)studied customers‘ satisfaction from the servicesprovided by different
banks andanalyzed the response of customerstowards the actual time taken by banks to
complete the banking transactions. The findings of the study revealed that nationalized banks
and co-operative banks need to improve on reducing the time taken to complete bank
transactions. Comparatively the private and foreign banks take much less time for completing
their transactions. The study suggested that the nationalized commercial banks and co-
operative banks mustincrease the use of information technology and customer relationship
management to deliver standardized services to their target customers.
5.
Mosad Zineldin (2005)in his study ―Quality and Customer Relationship Management as
Competitive Strategy in the Swedish Banking Industry‖ stated that a bank had to crea
customer relationships that deliver value beyond that provided by the core product. Thi
involved added tangible and intangible elements to the core products, thus creating and
enhancing the ―product surrounding.‖ One necessary condition for the realization of quality
was the creation ofvalue-added services, quality measurement and control. Thus, it was an
important function to ensure the fulfillment of given customer requirements. The key ways
for building a strong competitive position were value-added services and differentiation.
54
RESEARCH METHODOLOGY
oTYPE: -DESCRIPTIVE
oAll respondents were the customers of Axis Bank. The method was simple random
sampling
DATA SOURCE
oFor this project both primary and secondary data were valuable sources of information
Primary data: -such data collected first hand, either by the researcher or by someone
else, especially forthe study is known as primary data.
Secondary data:-any data, which have been gathered earlier for some other purpose, are
secondary data in the hand of researcher.
55
SCOPE OF STUDY
oThe store blend of an association particularly the sparing records are the
foundation of each bank as a customary man is most disposed to put resources
into it because of its comfort and simple accessibility.
oThis venture manages the different client concerns with respect to these and
attempts to propose suitable recommending consideringconclusions.
56
QUESTIONNAIRE LEADING TO COMPARATIVE
ANALYSIS OF PRODUCTS & SERVICES OF AXIS BANK
WITH ITS COMPETITORS
Dear respondent,
Thank you.
Yours faithful
DHARMADEEPSINH GOHIL
1.Name:
2.Age:
3.Address:
4.Occupation:
a)Saving account[]
b)Fixed deposits[]
c)Current account[]
d)Others[]
57
6.How you find the salary/saving accounts of axis bank?
a)Very good []
b)Good []
c)Excellent []
d)Satisfactory []
7.Do you have any other products of axis bank other than salary/saving account?
a)Yes []
b)No []
a)Direct branch[]
b)Mobile banking []
c)Net banking []
d)Phone banking []
a)Axis bank []
b)HDFC bank []
c)ICICI bank []
a)Axis bank []
b)HDFC bank []
c)ICICI bank []
58
11.Which bank is better in providing services regarding transition?
a)Axis bank []
b)HDFC bank []
c)ICICI bank[]
a)Product[]
b)Services[]
c)Technology[]
d)Update[]
a)Excellent[]
b)Good[]
c)Average[]
d)Poor[]
e)Can‘tsay[]
a)Quick services[]
b)Proper information[]
c)Working hours[]
d)Less formalities[]
e)Varity of product[]
59
15. Your opinion regarding bank service provided by axis bank.
a)Highly satisfied []
b)Satisfied []
c)Moderate []
d)Dissatisfied []
e)Highly dissatisfied []
60
SURVEY
TYPE OF ACCOUNT
SAVINGS ACCONT FIXED DEPOSITS CURRENT ACCOUNT OTHERS
10%
39%
23%
28%
Interpretation: -
from the above graph we can see that majority (39%) people have saving
account in axis bank. While, 23% have current account and FD & other accounts ar
respectively 28% and 10%. Thus,we can say that most of customers are preferring saving
account in AXIS bank.
61
HOW YOU FIND THE SALARY/SAVING ACCOUNTS OF AXIS BANK?
ACCOUNT SATISFACTION
VERY GOOD GOOD EXCELLENT SATISFACTORY
18%
29%
7%
46%
Interpretation: -
62
DO YOU HAVE ANY OTHER PRODUCT OF AXIS BANK OTHER THAN
SALARY/SAVING ACCOUNT?
0%0%
31%
69%
Interpretation: -
From the above information we can interpret that many customers have
other products other than saving/salary account such like, locker, investment, OD, CC, loan,
credit card, etc.
63
WHICH CHANNEL YOU USE TO ACCESS YOUR ACCOUNTS?
19%
39%
26%
16%
Interpretation: -
Above chart shows the current trend of using channel for accessing
accounts. According to above information majority customers are accessing their accounts
through walk-in to branch less no. of customers are using other channel like, mobile banking,
net banking, phone banking. Which describes unawareness about technologies in banking
services.
64
WHICH BANK HAS EASE OF ACCESS (BRANCH &ATM)?
EASE OF ACCESS
AXIS BANK HDFC BANK
0%
26%
33%
41%
Interpretation: -
65
WHICH BANK OFFERS YOU THE FLEXIBILITY IN ITS PRODUCTS?
FLEXIBILITY
AXIS HDFC
0%
25%
31%
44%
Interpretation: -
This chart shows the flexibility of bank in it‘s products. In this criteria
HDFC is also better and the ICICIis second and last is AXIS.
66
WHICH BANK IS BETTER IN PROVIDING SERVICES REGARDING
TRANSACTIONS?
0%
34%
38%
28%
Interpretation: -
67
WHICH IS THE AREA OF IMPROVEMENT FOR AXIS BANK?
AREAS OF IMPROVEMENT
PRODUCTS SERVICES TECHNOLOGY UPDATES
23%
33%
27%
17%
Interpretation: -
This is also important review of axis‘s customer for improving their area of
banking. From the above chart we can see that axis bank should improve technologies for
using bankingoperations and products also.
68
IN COMPARION TO ANOTHERBANK HOW WOULD YOU RATE AXIS
BANK?
6%
22%
14%
21%
37%
Interpretation: -
69
WHAT FEATURES/ATTRIBUTES, WHILE OPENING AN ACCOUNT DO
YOU EXPECT FROM A BANK?
6%
29%
24%
19% 22%
Interpretation: -
70
YOUR OPENION REGARDING BANK SERVICES PROVIDED BY AXIS BANK
highly satisfied
satisfied
71
Hypothesis testing
Step -1
Ho: Opinion regarding bank services of axis bank is uniformed
H1: Opinion regarding bank services of axis bank in not uniformed
Step –6
Interpretation
As the table value is 9.4877 is less than calculated value 64.4
So, the Ho hypothesis is rejected
Alternate is accepted.
72
FINDINGS
oThe bank has good relationshipwith its customers. The customers are satisfied with
the relationship manager service provided by Axis Bank.
oThe bank and its customers have a long-termrelationship. Axis Bank has the tendency
to retain its customers at any cost. They believe that the old customer is mo
profitable instead of a new one that‘s why they try to maintain good and long-term
relations to their customers.
oThe accounts of these three banks don‘t have much difference in terms of features but
when it comes to number of branches and ATM‘s HDFC Bank is ahead of the Axis
Bank.
oThe customers of Axis Bank are satisfied with their savings and salary accounts.
73
RECOMMENDATION & SUGGESTIONS
AXIS Bank was one of the first private banks to launch operations in the country in 1994,
after the Government of India passed a resolution in favor of privatization. An IT savvy bank,
AXIS Bank is a pioneer in adopting modern technologies in the banking sector. Itave
large network of branch offices and extension counters across the country
oAXIS Bank needs to promote and encourage people to use internet banking
oIn terms of ease of access AXIS Bank needs to increase the number of ATM‘s
oThe Bank should be more flexible tocompete with its competitors like HDFC, ICICI.
oMostly benefit class people lean toward the Axis bank in the correlation of business
and understudies and different class people along these lines it needs to advance its
item and administrations that are offered predominantly for the business class
individuals and understudies. Since these two class frames significant clients of the
keeping money administrations.
74
CONCLUSION
oThe contemplate primarily was on the client introduction that how they think, what
they need from their banks and how they take choice heading off to any bank.
oIn this examination I found that the obligation of Axis Bank with its clients is great,
since Axis Bank essentially centers around holding their clients.
oThis consider finds that anyway Axis Bank isn't the main restricted areabank,
however its huge scope of items and accessibility of choices improve it one of the
banks in India.
oThe bank should give careful consideration on giving updates and should expand the
level of administration giving becausethe contenders of Axis are better around there.
oThe bank should attempt to expand the utilization of innovation like versatile and net
managing an account among its clients.
'
75
LIMITATIONS OF STUDY
oIn quickly evolving industry, examination on multi day or in one fragment can
change rapidly.The natural changes are essential to be considered to absorb
the discoveries.
oTo convince the people for a proper interviewing process is also difficult.
76
List of Abbreviation
77
References/Bibliography
https://www.rbi.org.in/
http://www.axisbank.com/personal/index.aspx
http://jansuraksha.gov.in/
1. Uppal R. K (2011), India banking sector reforms: Rationale, efficacy and necessity of third
reforms,‘ Business Administration and Management(BAM), Prime Journals, Vol. 1(3),
March 10th, 2011, pp. 68-72.
2. Mishra, D. (1997). Fundamentals for Banks. IBA Bulletin, XIX (8), 42.
3. Singh, Gaga jot. (1998). New Innovations in Banking Industry –A study of New Private
Sector Banks. Deep and Deep Publications, New Delhi, 36-63.
78